BNB (BNBUSD) Price: Buyers Are Opposing Sellers at $557.7 Zone

Bulls are gathering momentum in BNB market

BNBUSD Price Analysis: 11 April

If buyers can hold onto the $585.9 557.7 support level and break above the $585.9 resistance level, they might be able to drive the price to test the $606.6 and $642.3 resistance levels. BNB should go for the prior lows of $537.0 and $517.1 if it can overcome the critical $557.7 barrier.

Key levels:

Supply levels: $585.9, $606.6, $642.3

Demand levels: $557.7, $537.0, $517.1

BNBUSD Long-term Trend: Bearish

Every day, the BNBUSD chart displays a bearish trend. The price of the cryptocurrency reached an even higher peak on December 9, rising from $557.7 to $662.0. The bears overcame some resistance and broke through the previously mentioned barrier as their strength increased. The market is dominated by selling, as demonstrated by BNB’s most recent decline below $585.9. There were signs that the negative trend was continuing. The price’s most recent flip at $557.7, which is consistent with the downward trend, indicates that buyers may accept a lower offer.

The Hull Suite FX indicators show that the price of the BNBUSD is currently falling below the crypto currency indications. If buyers can hold onto the $585.9 557.7 support level and break above the $585.9 resistance level, they might be able to drive the price to test the $606.6 and $642.3 resistance levels. BNB should go for the prior lows of $537.0 and $517.1 if it can overcome the critical $557.7 barrier.

 

BNBUSD medium-term Trend: Bearish

The coin’s positive effects could cause the price of BNBUSD to incline during the course of the following four hours. Following testing at $606.6, the BNB started to decline. We learned that $642.3 had been paid in total on March 25. The price flipped below the target level as a result of the bears’ fury. The lowest price was $557.7 yesterday. Today, the price might test $585.9

The BNB trading is lower than the Hull Suite indicator. Significant selling is indicated by a signal line on the QQE MOD indicator that is below zero.

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